blog16

Want To Trade Forex Like An Expert? Control Your Environment

by with No Comment Forex

Why  Building A Supportive Forex Trading Environment Is Important

What do I mean by supportive trading environment? I mean that no one exists in a vacuum. Many things outside the actual forex market itself — from the physical environment you trade in to your personal circumstances at the time you are trading — can impact your trading performance. Maybe you have skeptical family members that are giving you a bad case of performance anxiety. Maybe you don’t have enough funds in reserve, which causes adverse anxiety and pressure that impacts your performance. Whatever the reason may be, the outside world impacts your performance just as much as market conditions.

Top Tip: The Outside World Matters

Knowing what outside factors impact your trading performance — and setting up your environment to support your best performance — can be a good way to improve your trading.

 

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blog15

Want To Trade Forex Like An Expert? Your Trading Log Is Key

by with No Comment Forex

Why Study Your Trading Log?

Just as with keeping a journal, downloading and analysing your trading log — or the record of your trading history recorded on your trading platform — can be key to gaining valuable insights into the forex market.

You might notice, for example, that while you’ve opened many different positions on many different currency pairs over a certain period of time, only one or two (or none) turned a profit for you. This might be a sign that you are spreading your attention over too many trades and, thus, you should focus on fewer. On a similar note, you might find that you trade best early in the morning or late at night.

These are just examples, of course. The insights you uncover will, of course, be specific to you. Analyzing your past performance is key to discovering them.  

Top Tip: Studying Your Trading Log Can Be a Great Path To Growth

Your trading log can help you discover everything from the trading style that works best for you to what currency pairs or commodities you do best with. Ignore it at your peril.

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